Low Income Housing Tax Credits & Rural Housing in Virginia, 2016

Virginia’s 2016 QAP awards 20 points to developments currently subject to Rural Development’s Section 515 program or HUD’s Section 8 or Section 236 programs. In addition, 10 points are awarded to developments receiving new project-based subsidy from Rural Development or HUD for the greater of 5 apartments or 10% of the apartments in the proposed development.

15 points are awarded to any proposed development listed in the top twenty-five developments identified by Rural Development as high priority for rehabilitation at the time the application is submitted to the Authority.

This Working Paper looks at the combination of incentives state agencies are using in their LIHTC programs for affordable housing in neighborhoods with economic growth, quality schools, low crime, and access to...